The Treasury Accounts-MDS, Regular account of Agency ABC as of December 31, 2020, had the following transactions: Outstanding Check P25,850, Bank Charges P4,750, Overstatement of MDS Account due to erroneous recording of NCA (with ARO) received P150,000, Overstatement of MDS Account due to erroneous recording of the amount of check issues issued P20,000, Understatement of NCA for regular recorded by bank P800,000, Lapsed NCA for regular account with ARO P420,000, Understatement of MDS Account due to erroneous recording of the amount of checks issued P8,000, NCA received by bank but not recognized by the Agency P543,210. Agency Book Balance P11,043,540, Balance per Bank P10,225,850.How much is the Adjusted balance per book and bank? *
The Treasury Accounts-MDS, Regular account of Agency ABC as of December 31, 2020, had the following transactions: Outstanding Check P25,850, Bank Charges P4,750, Overstatement of MDS Account due to erroneous recording of NCA (with ARO) received P150,000, Overstatement of MDS Account due to erroneous recording of the amount of check issues issued P20,000, Understatement of NCA for regular recorded by bank P800,000, Lapsed NCA for regular account with ARO P420,000, Understatement of MDS Account due to erroneous recording of the amount of checks issued P8,000, NCA received by bank but not recognized by the Agency P543,210. Agency Book Balance P11,043,540, Balance per Bank P10,225,850.How much is the Adjusted balance per book and bank? *
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Treasury Accounts-MDS, Regular account of Agency ABC as of December 31, 2020, had the following transactions: Outstanding Check P25,850, Bank Charges P4,750, Overstatement of MDS Account due to erroneous recording of NCA (with ARO) received P150,000, Overstatement of MDS Account due to erroneous recording of the amount of check issues issued P20,000, Understatement of NCA for regular recorded by bank P800,000, Lapsed NCA for regular account with ARO P420,000, Understatement of MDS Account due to erroneous recording of the amount of checks issued P8,000, NCA received by bank but not recognized by the Agency P543,210. Agency Book Balance P11,043,540, Balance per Bank P10,225,850.How much is the Adjusted balance per book and bank? *
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